Correct Answer - Option 1 : CSO
The correct answer is CSO.
National Income in India is computed by the CSO.
Central Statistics Office
- It is of the Ministry of Statistics and Programme Implementation.
- It has been measuring National Income and other related macroeconomic aggregates.
National Income and Expenditure
- The production within the economy over a given period of time is spent either for consumption of its members or for the addition of fixed assets or for adding the stock of existing productive assets within the country.
- Hence, production can also be measured by considering the expenditure of those who purchase the finished or final goods and services.
- The national expenditure is the sum of expenditure of all spending of institutional sectors viz., government, households, and enterprises.
- The expenditure on final goods and services may be purely for consumption purposes like consumption of food, clothing, shelter; services, etc., or for capital formation such as the addition to buildings, plant, machinery, transport equipment, and the like.
- Some goods may not be immediately sold and maybe kept aside as stocks. These goods which are added to stocks are also accounted for as final expenditure.